Friday, June 24, 2022

SECI’s 1,785 MW solar auction discovers 2021’s 2nd lowest tariff. Here’s list of winners

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  • The lowest tariff discovered in 2021 is Rs 2.14/kWh
  • ReNew Power won 600 MW and NTPC bagged 500 MW of solar power capacities at the auction

New Delhi: The auction conducted by Solar Energy Corporation of India (SECI) for 1,785 MW of solar projects (Tranche IV) in Rajasthan has discovered the year 2021’s second-lowest solar tariff of Rs 2.17/kWh. The lowest tariff discovered in 2021 is Rs 2.14/kWh, which was pitched by bidders at the auction for 500 MW solar projects at Neemuch Solar Park in Madhya Pradesh (MP). The tender for 1,785 MW solar projects was issued by SECI in March this year and deadline extensions were announced in the wake of the second wave of COVID-19 pandemic.

SECI 1,785 MW solar auction: List of winners

The list of winners for SECI’s 1,785 MW solar auction includes NTPC, ReNew Power and UPC Renewables, among others. Maharatna power PSU NTPC has won big at the auction by bagging 500 MW of solar power capacities. Sprng Energy Natural Power Source has bagged 200 MW, Calpine Subsico Solar Energy (an SPV of UPC Renewables) has won 90 MW, and Metka EGN Singapore Pte 20 MW. All these entities quoted a tariff of Rs 2.17/kWh.

ReNew Solar Power has won the largest chunk of the pie at 600 MW. However, it quoted a tariff of Rs 2.18/kWh. ACME Solar, which had bid for the entire 1,785 MW of capacity at Rs 2.18/kWh, has been awarded 375 MW. Sources who spoke to PSU Watch said that the tender was oversubscribed by 9.3 GW.

Backdrop

The lowest solar tariff discovered by SECI in 2020 was Rs 2/kWh for 1,070 MW of solar projects in Rajasthan. The tariff was quoted by Al Jomaiah Energy and Water Company and Green Infra Wind Energy Limited, a subsidiary of Sembcorp.

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